🔥BESSENT FIRES BACK AT DRUCKENMILLER: The Treasury secretary defended his surprise bond-buyback expansion, arguing that the announcement alone may have helped U.S. Treasuries outperform. “I have not bought anything yet,” Bessent said. “Stan’s a great investor. He changes his mind a lot, and he doesn’t like losing money. I think he lost money the day he sent in the editorial.” “Hedge fund managers like to speed things up,” he added. The clash began after Druckenmiller, Bessent’s former mentor, criticized the plan and urged policymakers to let the bond market set yields without government intervention. Treasury buybacks purchase older debt to improve liquidity and market functioning, rather than directly financing government spending.(Coin Bureau)